ACCOUNTS PAYABLE CONSIGNMENT PROCEDURES

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Alannah Brooks
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1 ACCOUNTS PAYABLE CONSIGNMENT PROCEDURES

2 Table of Contents Applying Monthly Payments... 3 Item / Style Move... 6 RTV Unit Clarification... 7

3 Applying Monthly Payments In order to understand/reconcile the payment for monthly sales, use 2 reports provided via macysnet.com. Each of these reports should be pulled for each division on your check e.g. if Macy s and macys.com contain check detail, the following reconciliation twice. Helpful tip: Export these documents to MS Excel. 1) Transaction Summary (TS) export this report from macysnet.com for the months included in the payment. If you are paid each monthly regularly, only 1 month of activity is included. If you have gone more than one month without a check, please include the TS report for each period since your last payment. 2) Check Remittance (CR) export this from macysnet.com. Helpful tip: The Beginning On Hand and Ending On Hand document number is provided on the TS and will balance to the document provided on the CR. Document Number Reference on Transaction Summary

Transfer Totals Net Transfers (this number can be positive or negative) x Item Cost d. Receipt totals Receipts x Item Cost e.

4 Document number reference from check detail/remittance 1. Insert 5 columns into the TS report with the following formulas: a. Net Sales = (Sales Cust Ret) x Item Cost b. RTV Totals = RTV s x Item Cost c. Transfer Totals Net Transfers (this number can be positive or negative) x Item Cost d. Receipt totals Receipts x Item Cost e. Adjustment Totals Adjmt (this number can be positive or negative) x Item Cost Here is a sample with inserted formulas highlighted in yellow: Formula = (I-Q)*F Formula = K*F Formula = O*F Formula = R*F Formula = M*F

5 2. Please group and total transactions from your CR in similar form : a. All invoices b. All RTVs c. Beginning on Hand (BOH)/Ending on Hand (EOH) Balances d. All other deductions, such as freight allowance, expense offsets, advertising, etc. Helpful Tip: Description is usually easiest way to group. Use of pivot tables may also be beneficial. 3. To reach your payment amount, compare the totals from each report and identify financial differences for each column that you have inserted. These differences play a part in your payment total. Use the guide below to understand if the difference you have identified is an addition or deduction to your net sales payment: a. RTV Totals If TS is more, add the difference to Net Sales total. If TS is less, subtract the difference from Net Sales total. b. Transfer Totals (TS only) If a negative number, add difference to net sales. If a positive number, subtract difference from net sales total. c. Receipt Totals If TS is more, subtract the difference from net sales total. If TS is less than the check detail, add the difference to net sales total. Don t see a receipt total on CR should this say TS oly or should there be a reference to Invoice Total from CR? d. Adjustment Totals (TS only) If a negative number, add difference to net sales. If a positive number, subtract difference from net sales total.

Helpful Tip: Check the style activity across, using your Ending On hand (EOH) units from the previous month; verify that the EOH units match the activity that occurred during the month.

6 Helpful Tip: Check the style activity across, using your Ending On hand (EOH) units from the previous month; verify that the EOH units match the activity that occurred during the month. If there are units missing, add them to your payment. 4. After these steps have been completed if you are unable to balance payment to transaction summary, submit an inquiry via the APForms application on macysnet and your consignment analyst respond to your request. Use the Invoice Non-Payment/POD Dispute form to submit your reconciliation questions. Item / Style Move When styles are moved from one department/vendor number to another department/vendor number or when styles are converted to memo/consignment from asset/owned: A 2-sided financial transaction is generated. These transactions link the financial value with the units: 1. A debit memo will be generated where the item originally lived. This transaction is processed at the style level and represents all on-hand units being moved for that Mark style number. 2. A credit memo will be generated where the item is going. This credit will contribute to the consignment Ending On Hand balance and become part of your on-hand inventory.

Helpful Tip: When merchandise is moved from asset/owned to memo/consignment, the transactions described above simulate a virtual return. I.e. goods are returned to the asset/owned account without physically moving, which eliminates any logistics expense (freight, handling).

7 Helpful Tip: When merchandise is moved from asset/owned to memo/consignment, the transactions described above simulate a virtual return. I.e. goods are returned to the asset/owned account without physically moving, which eliminates any logistics expense (freight, handling). Payment would be expected via a deduction from existing asset/owned business or reimbursement from the vendor. The financial transaction on the memo/consignment account represents a virtual receipt/invoice. In addition, the memo/consignment on-hands are increased. When a style is moved, Accounts Payable processes an accompanying financial transaction. We debit where the item lives, so if you were paid for the item on an invoice, we are taking those funds back. We then process a credit where the item is going to (new department). This financial value represents the item moved/converted which will now set your consignment on-hands accurately, so that you can be paid via the consignment payment model going forward as the items sell. RTV Unit Clarification As both types of unit decreases appear in the RTV s column, there are 2 ways to identify if a unit was Marked Out of Stock (MOS) vs. returned merchandise (RTV). You will not receive the actual unit back for MOS merchandise. 1. Is there an RTV financial document on the trial balance/check remittance? If yes, the goods are being returned and should arrive at your distribution center. If a financial document is not on your trial balance/check remittance corresponding to this Mark Style, the goods were MOS d. You will receive financial credit for these units via the monthly variances in Ending on Hand/Beginning on Hand. 2. The transaction summary may also be used to determine MOS vs. RTV: a. From the transaction summary, you can search by specific markstyle, or view all style in your department to start this process

Then click on that Markstyle number to expand the location detail of that specific Markstyle: c.

8 b. Click on the Department link to expand the detail. Identify a Markstyle that has an RTV unit in the appropriate time period. Then click on that Markstyle number to expand the location detail of that specific Markstyle: c. From there, click on the UPC link for further detail: d. This will provide location level detail. From here, search for the RTV d unit, this will be a blue link as well:

9 e. Click on the link to see the details. If a true RTV, a chargeback number will be provided. If a MOS, the following message will be displayed:

Activant Prophet 21. More Voucher Creation

Activant Prophet 21. More Voucher Creation Activant Prophet 21 More Voucher Creation This class is designed for Accounts Payable personnel Objectives Adjust Vouchers through Debit/Credit Memo Entry Perform Reverse Vouchers Establish a Recurring